Jewellery market in Denmark

Earlier Report Observations

From 2018 to 2020, the Danish jewellery market size declined from $59.9 million to $40.7 million. This downturn aligned with the industry's digitalization, which increased online competition and lowered consumer prices. Despite the COVID-19 pandemic, jewellery companies maintained growth due to the product's longer lifespan compared to apparel. In 2021, the market surged to $67.2 million, driven by Pandora's intensified branding and marketing investments under new CEO Alexander Lacik, which boosted consumer demand.

The market contracted sharply to $36.3 million in 2022, partly due to the tightened Marketing Act that restricted marketing targeting children and youth, alongside amended Purchase Law raising seller liability in e-commerce. By 2023, the market rebounded to $60.5 million as digitalization and e-commerce continued to expand sales volumes, offsetting price pressures. In 2024, the market eased to $51.3 million amid global price increases for rare metals used in production, raising costs and affecting demand.

In 2025, industry trends emphasize sustainability and ethical sourcing, with consumer interest growing in recycled gold and chunky chain designs. New jewellery designers and brands continue to enter the market, supported by ongoing digitalization that fosters niche opportunities.

Production jewellery in Denmark

In value, 2018-2021, K $ US

Jewellery production in Denmark saw a rebound in 2021 after two consecutive years of decline. Output was valued at 14 994 K $ US, marking a 10.1% increase from the previous year. However, over the broader period from 2018 to 2021, production fell by 42.5%, which translates to an average annual decline of 16.8%. The lowest point occurred in 2020, with production at 13 623 K $ US, and the sharpest drop of 31.2% was also recorded that year.

Annual dynamics of production in Denmark in value, 2018-2021, K $ US

Exports jewellery from Denmark

Exports in kind, t

Market performance showed significant fluctuations during this period. In 2019, jewellery export volumes from Denmark hit their lowest point at 29.3 t, while they peaked in 2020 at 103.2 t, representing a 3.5-fold difference between these extremes. By 2021, exports had dropped to 44.2 t, a steep decline of 57.2% compared to the previous year. The largest increase was recorded in 2020, with a surge of 251.8%.

Annual dynamics of product's exports from Denmark in kind, 2018-2021, t

From 2018 to 2021, Germany, Sweden, and Norway were the leading destinations for Denmark's jewellery exports in kind. Germany accounted for 29.1% of these exports, Sweden for 18.5%, and Norway for 11.5%. Together, these three countries made up 59.2% of the total export flows.

Structure of product's exports in kind by countries, 2018-2021

World map of product's exports from Denmark in kind, 2018-2021

Exports in value, M $ US

Denmark's jewellery exports in value terms grew for the second year in a row. In 2021, exports reached 115.1 M $ US, a 33.4% year-on-year increase. Over the period from 2018 to 2021, exports rose by 31.9%, averaging an annual growth rate of 9.7%. The lowest value was recorded in 2019 at 78.9 M $ US, which also saw the largest decline of 9.5%.

Annual dynamics of product's exports from Denmark in value, 2018-2021, M $ US

An analysis of jewellery exports in value terms from 2018 to 2021 reveals a diverse distribution across many markets. Norway led with 16.8% of exports, followed by Germany at 14.3% and Sweden at 11.3%. Together, these three countries accounted for 42.5% of total flows, while the remaining 57.5% was spread among other trading partners.

Structure of product's exports in value by countries, 2018-2021

World map of product's exports from Denmark in value, 2018-2021

Imports jewellery to Denmark

Imports in kind, t

Imports of jewellery into Denmark increased for the second consecutive year. In 2021, imports reached 50.8 t, a robust 15.4% rise compared to 2020. Over the 2018-2021 period, imports grew by 7.4%, with a compound annual growth rate of 2.4%. The lowest volume was recorded in 2019 at 36.3 t, which also experienced the largest decline of 23.2%. In contrast, the largest increase occurred in 2020, with a jump of 21.2%.

Annual dynamics of product's imports to Denmark in kind, 2018-2021, t

From 2018 to 2021, Thailand, Germany, and Italy were the primary suppliers of jewellery to Denmark in kind. Thailand contributed 26.8% of imports, Germany 19.5%, and Italy 7.1%. Collectively, these three countries formed 53.4% of total imports in kind.

Structure of product's imports in kind by countries, 2018-2021

World map of product's imports to Denmark in kind, 2018-2021

Imports in value, M $ US

Jewellery imports into Denmark continued to rise for the second year in a row. In 2021, imports totalled 167.3 M $ US, a significant 47.6% increase from 2020. Over the 2018-2021 period, imports grew by 38.2%, with a compound annual growth rate of 11.4%. The lowest value was recorded in 2019 at 107.2 M $ US, which also saw the largest decline of 11.5%.

Annual dynamics of product's imports to Denmark in value, 2018-2021, M $ US

From 2018 to 2021, Thailand, Germany, and India were the key sources for Denmark's jewellery imports in value terms. Thailand accounted for 37.0% of imports, Germany for 9.0%, and India for 8.4%. Together, these three countries made up 54.3% of total imports, solidifying their positions as the main suppliers to Denmark.

Structure of product's imports in value by countries, 2018-2021

World map of product's imports to Denmark in value, 2018-2021